Property Overview & Key Characteristics
This two-storey home in Winnipeg's established Tuxedo neighbourhood presents a compelling blend of space, location, and value. Its primary appeal lies in its generous 10,392 sqft lot, which ranks in the top 6% for size across Winnipeg, offering exceptional outdoor potential in a prime area. The 2,241 sqft living area is also well above average for the city. While the 1964 build date means the structure is mature, it sits on a premium, sizable parcel of land in a desirable community. The home features an attached garage and a renovated basement.
The property would suit buyers looking for a solid family home in a respected neighbourhood with the room to grow, garden, or potentially expand. It's also a strong candidate for value-conscious purchasers who see the underlying asset: the land itself. The assessed value is notably low relative to similar-sized lots in the area, which may appeal to those with renovation or long-term investment in mind. It’s less suited for those seeking a new, turn-key property without any future projects.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on finish quality, legal compliance, and moisture control should be verified through a viewing and inspection.
2. Why is the assessed value significantly lower than nearby properties?
Assessment is based on multiple factors, including the home's age, condition, and recent sales. The lower value here likely reflects the older build date compared to the land value, which is a separate component. This can present an opportunity but should be explored with a real estate professional.
3. How does the lot size compare practically?
At nearly a quarter-acre, the lot is substantially larger than most in Winnipeg. This offers rare privacy, space for additions like a deck or garage, and mature landscaping, but also means higher maintenance and utility costs for lawn care and snow clearing.
4. What are the less obvious considerations of a 1960s home?
While the basement is updated, core systems like plumbing, electrical, and the roof will be at or beyond their typical lifespan. A thorough inspection is crucial. However, homes of this era often feature robust construction and room layouts not found in newer builds.
5. Is the low assessment good for property taxes?
Typically, yes. A lower assessed value generally results in lower municipal property taxes, which is an ongoing financial benefit. However, the final tax bill also depends on the city's mill rate.